Part of the iconic seafront Old College building in Aberystwyth is to be transformed into a new business hub for young entrepreneurs.
Wales Online reported “The £1.4m project will transform the currently unused South Seddon building into business units.
Led by Aberystwyth University, the scheme will create 12 new modern workspaces for the entrepreneurs in the tech sector.
It will also be marketed to provide affordable space for graduates and postgraduate entrepreneurs from Aberystwyth University.
The Welsh Government has confirmed £900,000 of EU-backed funding towards the project.
The funding for the South Seddon building is part of a larger regeneration project, which will be announced shortly.
Finance Secretary Mark Drakeford, who next week will succeed Carwyn Jones as First Minister said: “This is another positive example of how the Welsh Government is using EU funds to support new industries to develop and thrive, resulting in new jobs, products and services.”
Professor Elizabeth Treasure, vice chancellor of Aberystwyth University, said: “Economic regeneration is a key element of our plans to redevelop Old College.
“The new business units in South Seddon will lead to the creation of high-quality jobs and product innovation and we are grateful to the Welsh Government and the Welsh European Funding Office for their valued support.
“We will be unveiling our ambitious proposals for the wider redevelopment of this unique grade one listed building and launching a public consultation on December 11.”
The business units will be ready for occupancy in the summer of 2021” here.